Sale of Ladik Cement halted

Published:
20 March 2006

The 13th Department of the Council of State halted the execution of the resolution of the Saving Deposits and Insurance Fund (TMSF) which approved the Sale Commission’s decision regarding the sale of Ladik Cement to Türkerler AS, which gave the second highest bidding, instead of Akçansa.Therefore, the execution of the decision of the Sale Commission regarding the sale of Ladik Cement’s commercial and economic integrity to Türkerler AS and the resolution of TMSF which approved this decision has been halted until the lawsuit is completed. If TMSF rejects this decision of the 13th Department of the Council of State, the objection will be adjudicated by the Administrative Lawsuit Departments Board of the Council of State.